Litecoin has continued to impress for the past few days with prices on an uptick just like most of the major cryptocurrencies. The altcoin has continued to surpass expectations amid a lot of uncertainty about the performance of the cryptocurrency.
The price of Litecoin has been nothing short of impressive this year considering that its price was slightly below $4 earlier this year in January. Its value has been up by more than 8,000 percent just this year alone which is quite an impressive feat. The cryptocurrency surprised observers and investors when it hit $300 a while ago after surging drastically. It then went down to about $270, thus leading to speculation that it had a good run and was about to jump into a bearish trend. However, the price made a turnaround and climbed back above the $300 levels.
The altcoin’s price was holding up at $323.21 at the time of publishing but there has been speculation that it might continue to surge and even perhaps reach new impressive highs. If anything, its past performance has demonstrated surprising gains. Litecoin’s current market cap is $17,572,139,967 with 54,367,058 Litecoins in circulation.
Litecoin’s performance especially relative to the performance of Bitcoin has been quite interesting. Sometimes it seems to get on a bearish trend against the USD and this has been happening lately when Bitcoin surges. Previous trends have been characterized by a surge in other cryptocurrency prices when the price of bitcoin is on a bearish trend. In fact, the price movement of altcoins has largely been influenced by the price of bitcoin. For example, the recent drastic rise in the value of bitcoin above $16,000 was also characterized by a significant surge in the value of most other cryptocurrencies.
The current all-time high Litecoin price is $331 and it looks like the current value is rapidly approaching those levels. This might be an indicator that we might see a new all-time high very soon. Holders of the altcoin will obviously be highly pleased if that happens. But if anything, cryptocurrencies have proved to be quite unpredictable especially considering that they have also been characterized by huge and sudden price drops. There is no telling which direction the price will take. Once again, history has so far proven that sometimes it is good to be patient if the price goes down because it tends to recover and even hit new highs.
There is a lot of optimism about the possibility of cryptocurrency prices going higher. This is based on the fact that more people are embracing the idea of digital currencies and so most of them are jumping on board and this has been driving the prices higher.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
Image courtesy of pics ilove via Flickr
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful trading…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…
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